Huazhu Group (NASDAQ:HTHT) Given New $38.50 Price Target at Bank of America

Huazhu Group (NASDAQ:HTHT) had its target price trimmed by Bank of America from $42.20 to $38.50 in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the stock. HSBC cut shares of Huazhu Group from a buy rating to a hold rating in a research report on Wednesday, July 17th. China International Capital cut shares of Huazhu Group from a buy rating to a hold rating in a research report on Monday, May 6th. ValuEngine raised shares of Huazhu Group from a sell rating to a hold rating in a research report on Saturday, June 22nd. Zacks Investment Research raised shares of Huazhu Group from a strong sell rating to a buy rating and set a $37.00 target price on the stock in a research report on Wednesday, July 24th. Finally, China Renaissance Securities reaffirmed a hold rating on shares of Huazhu Group in a research report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Huazhu Group presently has an average rating of Hold and a consensus price target of $36.75.

Shares of HTHT traded down $1.12 during mid-day trading on Thursday, reaching $31.28. The stock had a trading volume of 444,193 shares, compared to its average volume of 998,985. The company has a debt-to-equity ratio of 4.09, a current ratio of 0.70 and a quick ratio of 0.70. Huazhu Group has a 52-week low of $24.90 and a 52-week high of $45.39. The business’s fifty day moving average is $33.04 and its 200 day moving average is $35.80. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 86.88, a P/E/G ratio of 3.07 and a beta of 1.78.

Huazhu Group (NASDAQ:HTHT) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. Huazhu Group had a net margin of 6.76% and a return on equity of 13.43%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Huazhu Group’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Huazhu Group will post 0.85 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of HTHT. Invesco Ltd. raised its holdings in Huazhu Group by 14,330.1% in the second quarter. Invesco Ltd. now owns 34,310,564 shares of the company’s stock valued at $1,243,757,000 after acquiring an additional 34,072,793 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Huazhu Group by 1,119.3% in the first quarter. JPMorgan Chase & Co. now owns 7,432,734 shares of the company’s stock valued at $313,216,000 after acquiring an additional 6,823,167 shares in the last quarter. Bank of Montreal Can raised its holdings in Huazhu Group by 158.1% in the second quarter. Bank of Montreal Can now owns 3,111,438 shares of the company’s stock valued at $112,789,000 after acquiring an additional 1,905,768 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Huazhu Group by 6.7% in the first quarter. OppenheimerFunds Inc. now owns 29,679,530 shares of the company’s stock valued at $1,250,695,000 after acquiring an additional 1,852,392 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Huazhu Group by 3,606.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,689,327 shares of the company’s stock valued at $61,238,000 after acquiring an additional 1,643,747 shares in the last quarter. 45.77% of the stock is currently owned by hedge funds and other institutional investors.

About Huazhu Group

Huazhu Group Limited, together with its subsidiaries, develops and operates leased and owned, manachised, and franchised hotels primarily in the People's Republic of China. The company operates hotels under the Hi Inn, HanTing Hotel, Elan Hotel, Orange Hotel, HanTing Premium, Starway Hotel, JI Hotel, Orange Hotel Select, Manxin Hotel, Crystal Orange Hotel, Joya Hotel, Grand Mercure, Novotel, Mercure, Ibis Styles, and Ibis brand names for business and leisure travelers.

Recommended Story: What is the 52-week high/low?

Analyst Recommendations for Huazhu Group (NASDAQ:HTHT)

Receive News & Ratings for Huazhu Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huazhu Group and related companies with MarketBeat.com's FREE daily email newsletter.